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growth for periods up to 45 years. and the difference compared to redevelopment is property taxes are divided into a number of recipients the state gets a property tax dollar and the remaining $0.10 is divided up between the school district and community college district. and under an infrastructure financing district typically the only increment that can be captured is the $0.65. you can't capture the money it goes to schools or to the community college district. so it's property taxes can be used to a finance infrastructure through bonds or on a pay as you go basis. the ports are structured a little bit differently. redevelopment focused on providing affordable housing. by state law 20 percent of the increment must be spent on parks, bay assess and the remove of bay fill. as you know there's significant historic contamination along the port property. so in 2005 is when we first went up to try to develop the tool and it was really based on the work that the director and cf o director did in the first 10 year capital plan. the plan says the structural financial plan is not in its
. that authorized you to fund the port property and it expanded the range of eligible use of tax increments with respect to the america's cup 80 to ask the state if it would allow infrastructure districts to capture the state that quarter of property tax dollars that goes up to the state and 801199 the state approved our ability to capture that tax increment under certain circumstances. >> i want to provide a little bit of the background between the ports fund. the bureau ton act which transfers from state to city control requires that we maintain a separate harbor fund it's separate from the city's general fund. we've done analysis over time to look at property taxes and the cost of city services on port property. there's a bit of a gap. there's some sources that are urban leashed and don't generate tax precedes. and there's a cost of providing city services in that budget. and we try and track that over time. there's a general prim the harbors shouldn't subsidize or excuse me. the general fund shouldn't subsidize those services. the improvements to piers and seismic upgrades there in t
Search Results 0 to 2 of about 3 (some duplicates have been removed)

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